Bullboard - Stock Discussion Forum Enerplus Corp T.ERF

Energy Oil & Gas E&P

Enerplus Corporation is a Canada-based independent oil and gas exploration and production company. The Company is focused on the development of North American oil and natural gas assets. Its portfolio includes light oil assets in the Bakken, North Dakota, and a position in the Marcellus natural gas shale region in northeast Pennsylvania. The Company's operations are concentrated in the core of... see more

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Enerplus Corp > RBC

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Post by retiredcf on Jun 07, 2023 9:29am

RBC

June 6, 2023

Enerplus Corporation
Announces Granting of Exemptive Relief Regarding its NCIB

NYSE: ERF | USD 14.65 | Outperform | Price Target USD 20.00

Sentiment: Neutral

Enerplus announced today that it has obtained an exemption order which permits the company to purchase up to 10% of its public float of common shares through the New York Stock Exchange and other US-based trading systems as part of Enerplus’ share repurchase program.

Key Details

• Absent of this exemptive relief, Enerplus’ purchases under its current NCIB on markets other than the TSX would be limited to not more than 5% of its outstanding common shares over any twelve-month period.

The aggregate number of common shares purchased by Enerplus over any exchange or market over the relevant 12-month period of a particular NCIB may not exceed 10% of the public float, including the current NCIB announced on August 11, 2022.
The company plans to repurchase the remaining balance of common share repurchases under its existing NCIB by the end of July, and will look to renew their 10% NCIB in August.